GungHo Online Entertainment

History

The company was established as ONSale Co., Ltd. on July 1, 1998, as a joint venture between Softbank and onSale Inc. to engage in the online interactive auction business in the US.

• In 2000, the company moved its headquarters to Chiyoda, Tokyo, Japan and changed its focus to providing auction systems, etc. using ASP.
• In 2002, the company once again changed its focus, this time to Online Game Services. Primarily hosting the Japanese server of Ragnarok Online.
• In 2004 the company began joint development of online games with Game Arts Co., Ltd.
• In March 2005, the company was listed on the Hercules Nippon New Market.
• In August 2005, the company invested in G-Mode Co., Ltd. a game manufacturer for mobile phones.
• In December 2005, the MMORPG developed by GungHo, Emil Chronicle Online, was officially released.
• In August 2006, they completed the contract to distribute Ragnarok Online II.
• In October 2007, GungHo Works, Inc., behind the development of Ragnarok DS, was established.
• In November 2007, the company acquired the video game assets of Interchannel from Index Corporation.
• In April 2008, Gravity Co., Ltd. was acquired as a subsidiary.
• In 2012, GungHo released the mobile Puzzle & Dragons which single-handedly made the company a huge financial success. In 2013, P&D was reportedly responsible for 91% of the company's $1.6 billion revenues for the year.
• In January 2013, GungHo acquired Grasshopper Manufacture, the studio behind titles such as Killer7, the No More Heroes franchise and Lollipop Chainsaw.
• On June 3, 2016, Softbank agreed to sell most of its stake in GungHo (approximately 23.47%) for about $685 million, which would end Softbank's majority ownership of the company, resulting in Gungho no longer being an associate of Softbank. The offer was accepted by Gungho and completed by June 22, thus allowing Gungho to become an independent company.
• In October 2021, GungHo sold Grasshopper Manufacture to NetEase.
• In February 2024, GungHo sold Acquire Corp. to Kadokawa Corporation.
• In 2025, the investor fund Strategic Capital, holder of an joint 8% stake in the shares of the company, launched a shareholder bid to oust CEO Kazuki Morishita. They argued that Morishita had let the company stagnate as a "one-hit wonder" without anything else of the level of success of Puzzle & Dragons, and that Morishita was overpaid, with him earning a higher salary than Nintendo's CEO.

Games

Active online games

• TEPPEN (July 4, 2019)
• Ragnarok Online (December 1, 2001)
• Tantra (March 10, 2004)
• Emil Chronicle Online (August 1, 2005)
• Hiten Online (April 19, 2007)
• ROSE Online (March 26, 2009)
• Lucent Heart (2009)
• Blade Chronicle (2009)
• Ragnarok DS (February 1, 2010)
• Eternal City 2 (June 23, 2010)
• Divina (September 9, 2010)
• Grand Fantasia
• ROSE Online
• Le Ciel Bleu
• Toy Wars
• Fishdom: Seasons under the Sea
• Puzzle & Dragons
• Summons Board
• Chrono Ma:Gia (2018)
• Ragnarok Mobile (2019)
• Ninjala (2020)

Inactive online games

• Survival Project (June 29, 2004 - August 31, 2006)
• A3 (October 15, 2004 - November 1, 2007)
• Saiyuki Reload Gunlock (September 1, 2004 - January 31, 2006)
• Squirrel Pot 2 (May 25, 2004 - December 28, 2007)
• eXtreme Soccer (β August 11, 2006 – 2008)
• Mahjong (May 31, 2007 - March 26, 2008)
• Koi Koi Playing Cards (May 31, 2007 - March 26, 2008)
• Poker (May 31, 2007 - March 26, 2008)
• Millionaire (May 31, 2007 - March 26, 2008)
• Shanghai (May 31, 2007 - March 26, 2008)
• Chat (May 31, 2007 - March 26, 2008)
• Ragnarok Online II (β May 28, 2007 - August 2010)
• Pachinko Slot (September 6, 2007 - November 4, 2008)
• Hakenden (June 4, 2008 - October 29, 2008)
• Yogurting (September 1, 2005 - May, 2010)
• Tetris Online (October 23, 2007 - July 5, 2011)
• Shin Megami Tensei: Imagine (June 26, 2007 - May, 2016)
• Grandia Online (August 26, 2009 - September 28, 2012)

PC

• Grandia II: Anniversary Edition
• Let It Die
• Grandia HD Collection (Grandia & Grandia II Remaster)
• Lunar Remastered Collection (Lunar: Silver Star Story & Lunar: Eternal Blue Remaster)
• Trails in the Sky 1st Chapter

PlayStation 2

• Nadepro!!: Kisama mo Seiyū Yattemiro!

PlayStation Portable

• Solfege: Sweet Harmony
• Mimana Iyar Chronicle
• Cho Aniki Zero
• P.W: Project Witch
• Lunar: Silver Star Harmony
• Ragnarok Tactics

PlayStation 3

• Ragnarok Odyssey Ace

PlayStation Vita

• Ragnarok Odyssey
• Ragnarok Odyssey Ace
• Picotto Knights
• Dokuro

PlayStation 4

• Let It Die
• Grandia HD Collection (Grandia & Grandia II Remaster)
• Lunar Remastered Collection (Lunar: Silver Star Story & Lunar: Eternal Blue Remaster)

PlayStation 5

• Trails in the Sky 1st Chapter

Nintendo DS

• Otometeki Koi Kakumei Love Revo!!
• Nakamura Tooru Kanshuu: India Shiki Keisan Drill DS (The Method of Indian Calculation)
• Aquazone DS
• Ragnarok DS
• Hero's Saga Laevatein Tactics
• Minna de Jibun no Setsumeisho: B-Gata, A-Gata, AB-Gata, O-Gata
• Ecolis: Aoi Umi to Ugoku Shima

Nintendo 3DS

• Puzzle & Dragons Z + Super Mario Bros. Edition
• Puzzle & Dragons X (Japan only)

Nintendo Switch

• Grandia HD Collection (Grandia & Grandia II Remaster)
• Puzzle & Dragons Gold
• Ninjala
• Volta-X
• Galak-Z: Variant S
• Lunar Remastered Collection (Lunar: Silver Star Story & Lunar: Eternal Blue Remaster)
• Trails in the Sky 1st Chapter

Xbox One

• Grandia HD Collection (Grandia & Grandia II Remaster)
• Lunar Remastered Collection (Lunar: Silver Star Story & Lunar: Eternal Blue Remaster)

Mobile

• Teppen (Battle Project)
• Ragnarok Online
• Casino Komodo
• Puzzles and Dragons
• Yo-kai Watch World
• Galak-Z: Variant Mobile
• Disney Pixel RPG

References

References

1. "Corporate Overview｜ GungHo Online Entertainment, Inc".
2. "Presentation".
3. "Company History｜ GungHo Online Entertainment, Inc".
4. (October 15, 2007). "Thomson Financial". [[Thomson Financial]].
5. "[ indie navi ] GungHo FY2013 Earnings by Platform and Market Sector".
6. "ガンホー・オンライン・エンターテイメント株式会社".
7. (7 June 2016). "Puzzle & Dragons studio GungHo to regain majority stake from SoftBank for $685m".
8. (6 June 2016). "SoftBank to sell most of its stake in 'Puzzle & Dragons' maker GungHo".
9. "Execution of Agreement to Tender in Tender Offer for Shares of an Associate - Press Releases - News - About Us - SoftBank Group".
10. "Tender in Tender Offer for Shares of an Associate - Press Releases - News - About Us - SoftBank Group".
11. "Results of Tender in Tender Offer for Shares of an Associate - Press Releases - News - About Us - SoftBank Group".
12. Stanton, Rich. (October 22, 2021). "Grasshopper Manufacture acquired by NetEase, promises three games over next decade". [[PC Gamer]].
13. Vještica, Amber. (July 25, 2025). "Activist investor of major Japanese game developer requests dismissal of CEO, calls him 'unqualified and completely unaware of his responsibilities'".
14. "ローズオンライン～キャラクターの着せ替えがおもしろい、無料で遊べるオンラインゲーム～".
15. [[Ragnarok DS]]
16. "トイ・ウォーズ《公式サイト》 ｜フィギュアで戦うシューティング".
17. "Puzzle & Dragons". GungHo Online Entertainment, Inc.
18. "「グランディア オンライン」正式サービス、ついに開始! | グランディア オンライン".
19. "Company History｜ GungHo Online Entertainment, Inc".
20. "Yo-kai Watch World For Smartphones Is The Series' Take On Pokémon GO".